Ten Students in a Graduate Program Were Randomly Selected A) $\hat { y } = 3.67 + 0.0313 x$

question 56

Multiple Choice

Ten students in a graduate program were randomly selected. Their grade point averages (GPAs) when they entered the program were between 3.5 and 4.0. The following data were obtained regarding their GPAs on entering the program versus their current GPAs. $\begin{array}{cc}\text { Entering GPA } & \text { Current GPA } \\\hline 3.5 & 3.6 \\3.8 & 3.7 \\3.6 & 3.9 \\3.6 & 3.6 \\3.5 & 3.9 \\3.9 & 3.8 \\4.0 & 3.7 \\3.9 & 3.9 \\3.5 & 3.8 \\3.7 & 4.0\end{array}$

• A) \(\hat { y } = 3.67 + 0.0313 x\)
• B) \(\hat { y } = 2.51 + 0.329 x\)
• C) \(\hat { y } = 4.91 + 0.0212 x\)
• D) \(\hat { y } = 5.81 + 0.497 x\)

---

Definitions:

Factory Overhead Rate

The method of allocating indirect costs to produced goods, usually calculated by dividing total factory overhead costs by a base such as direct labor hours or machine hours.

Product Costing

The method used to determine the expenses associated with producing a product, considering factors like raw materials, labor, and overhead costs.

Factory Overhead

Indirect costs related to manufacturing, including costs associated with operating the factory like utilities and salaries, but excluding direct materials and direct labor.

Indirect Materials

Materials used in the production process that cannot be directly linked to specific products or jobs, such as lubricants for machinery.